Silvair IPO prospectus approved

Lighting control firmware provider Silvair had its IPO prospectus approved by the Financial Supervision Authority KNF. Silvair is an American-based company founded and run by three Poles, Rafał Han, Szymon Słupik, and Adam Gembala. Its software is used by global manufacturers of lighting and sensors. The company hopes to float up to 2.4 million shares admit up to 11.6 million shares to trading on the regulated market. It hopes to raise up to $20 million and use the proceeds to build distribution channels for its products on the global markets. Only new shares will be issued under the IPO.